The case describes the organizational, operational, and financial challenges faced by BeefChain, a blockchain implementation in the cattle industry, following the successful completion of pilot projects and certification by the US Dept of Agriculture. Among them are need for an efficient revenue model that can scale up in a seamless fashion and a viable business model to ensure the financial success of all the stakeholders.
In August 2019, the leadership of Hester Pharmaceuticals (Hester) had a problem. Italy promised to be a key market for their new breakthrough oncology drug Akrozumab, but for almost two years, its single-payer healthcare system had been unable to agree with Hester on a price. With only a few years before a competing drug to Akrozumab was due to hit the market, company leaders felt mounting pressure to compromise with Italian negotiators. At the same time, they realized that compromising on a low price might jeopardize the higher prices Hester had already negotiated with other European nations, if these countries bought up extra supply from Italy or referenced Italy's low price when they renegotiated their own prices the following year. Should Hester settle for a low price, stall for more time, or walk away? This case introduces students to the process of bringing new prescription drugs to market and the factors that go into pricing drugs in both single-payer and multi-payer healthcare systems. Students will wrestle with the complex strategy behind pricing their drugs internationally.
In March 2020, in response to the global pandemic, the cruise industry ceased operations. Carnival was the largest cruise line operator in the world, and CEO Arnold Donald and his management team worked to position the company to survive. They slashed operating expenses and capital expenditures, raised more than $10 billion in new debt and equity financing, and negotiated with creditors. Planned ship deliveries were cancelled, and less efficient ships were retired or sold. Had the company done enough?
<iframe width="725" height="395" src="https://www.youtube.com/embed/la4NQo-cse8" title="Challenges in radical innovation adoption: The beautiful Concorde!" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe><br> <p align="justify">The Concorde, a British–French supersonic jet, captured the hearts and minds of aviators, business professionals, and celebrities around the world through its iconic design, superior features, and unique inflight experience. Despite its transcendent appeal, the jet became surrounded by controversy, catastrophe, an environmental movement, and changing consumer trends, all of which led to its grounding in 2003. In almost two decades, no aerospace program had been successful in recreating commercial supersonic air travel. The Concorde’s story showed that these non-technical aspects of technology adoption and diffusion were strong enough to force the retirement of a superior, breakthrough technology and replace it with an inferior one. In 2021, did it make sense to aim to commercialize supersonic travel by imitating the good in the Concorde and tweaking the downsides, or was there a hidden reason why the Concorde had failed and supersonic transport had not been recreated?
Founded in 1996, Dalian Leasun Food Co., Ltd. had become one of the largest canned food manufacturers in northeast China by 2020. In 2016, it began a digital transformation, adopting digital technologies such as data mining and cloud computing. The company also revised its internal operations and adopted an omnichannel sales strategy. Digital transformation enabled Dalian Leasun Food Co., Ltd. to move beyond the traditional retail and distribution market, which was becoming oversaturated. Its successful transition also helped the company maintain a stable sales growth rate during the COVID-19 pandemic. The next stage for its digital transition however, presented a dilemma. One option for the chairman of the company was to develop a customer-oriented platform and create value for customers. The other option was to digitalize the company’s supply chain and internal management system. The chairman had to decide which direction to follow.
After almost a year of rebranding and renovations, the Bitter Sisters Brewery opened to rave reviews on February 14, 2020, in Calgary, Alberta. Just 29 days later, the COVID-19 pandemic would force the brewery’s doors shut for over three months. Two further closures would come in 2020, and times remained uncertain as of December of that year. The owners had to pivot—and quickly—to ensure the viability of their business in volatile times.
THE YES, a multi-brand shopping app launched in May 2020 offered a new type of buying experience for women's fashion, driven by a sophisticated algorithm that used data science and machine learning to create and deliver a personalized store for every shopper, based on her style preferences, size, and budget. When a woman downloaded THE YES app, she embarked upon an interactive shopping journey that leveraged a fun, easy, gamified user experience (UX) reminiscent of dating apps to collect a stream of data from her that could be used to dynamically curate an ever-changing product assortment just for her. The founders had to decide whether to continue developing the UX and the algorithm to deliver on the company's customer value proposition, or to focus on new customer acquisition via paid media, with the idea that more users on the app improve the algorithm's performance. Several ideas for further monetizing the platform were on the table, including the development of social shopping features to make the shopping experience more viral, the design of an influencer program to bring fashion influencer voices onto the platform, and the construction of a customer loyalty program. Should THE YES invest in improving the algorithm, enhancing the UX with new functionality, or on customer acquisition?
In 2010, Ken Talbot, a self-made Australian billionaire, was traveling throughout Africa to bring his innovative coal technology to the continent when he perished in a plane crash. His will was originally created years prior when his estate worth was estimated to be AU $130 million. At the time of his passing, however, his estate had grown over ten times to AU $1.3 billion and he hadn't yet finalized an updated will. His beneficiaries were unaware of both the existence of his will and his intentions, which led to significant legal battles and the devaluation of a number of his assets. What could have been done differently to prevent the legal nightmare and emotional distress that plagued his family and ensure his loved ones carried out his intentions?
The Risk organization at SEB, a leading Nordic financial services group founded in 1856, undertook a culture change program focused on psychological safety, empathic listening, and strategic framing. The program enabled risk organization teams to make progress on strategic challenges and improved decision making processes. Chief Risk Officer Magnus Agustsson believed that the rest of SEB should go through a similar program. But it was not clear how to convince other departments to invest considerable time in developing the soft skills of culture change.
This case examines the leadership of Corie Barry, the new CEO of Best Buy, with a focus on actions the company took in 2020 to adapt to the COVID-19 pandemic. The case includes a history of Best Buy's strategy and leadership, including the transitions between the company's founder and the subsequent four CEOs. In particular, the career trajectory of CEO Corie Barry is described in detail. Regarding Best Buy's response to COVID-19, the case details the company's scenario planning and operational adjustments, including the temporary closure of all stores followed by the rapid establishment of curbside-pickup customer-order-fulfillment operations at roughly 1,000 store locations in the U.S. The case also attends to leadership's decisions to furlough more than 51,000 frontline employees, suspend in-home services, and subsequently resume in-store services under modified operating procedures.
Five years after the company's founding, Andela, a company that built and trained remote engineering teams, became arguably Africa's greatest technology unicorn. By January 2019, Andela raised $100 million in Series D funding. As Andela looked to scale in an increasingly competitive landscape, its goal was to democratize trust and become an "Amazon Web Services" (AWS) for software engineering talent. With their windfall investment and the advent of COVID, Andela had to figure out their "2.0 model" to permit scaling. How would Andela stack up in a growing landscape of global remote talent companies? Could Andela become not just Africa's, but the world's AWS for trusted software engineering talent?
The twenty-first century poses new challenges for businesses, especially when it comes to velocity (the speed of now). This book looks at the intersections of leadership and velocity and offers key leadership competencies essential for our time; these competencies might be even more timely due to the COVID-19 pandemic and the need for effective leadership at all levels. There is a vital need for these competencies, but there are also contrasts in practice, leaders who are rising to the occasion and those whose lacking is clearly notable. Ten competencies are outlined throughout the text that can serve as a foundation for effective leadership. They are based on personal experiences, interviews with various leaders, and research. Written for managers and business leaders of all kinds, this book will help individuals and businesses establish their leadership brand and enhance their leadership practices. Chapter 1 offers a background on the idea of velocity as the "speed of now." The business environment is more complicated than ever. Leaders have to deal with various stressors, such as globalization, economic shifts, and technological advancement. The world is in a state of "now," instant access and response. Businesses are under more scrutiny from various stakeholders. Leaders need to be able to keep up with this fast-paced, more demanding environment. This chapter discusses two challenges shaping leadership today: the need to deal with a growing set of paradoxical demands and the pace of "disruptive change" that speeds up the interaction of these demands and increases pressure on businesses to adapt. Change does not necessarily come naturally in many companies; consistent and persistent leadership intervention is essential. However, leaders can rise to the challenge and greatly benefit from these unprecedented changes in workforces and organizational structures.
The twenty-first century poses new challenges for businesses, especially when it comes to velocity (the speed of now). This book looks at the intersections of leadership and velocity and offers key leadership competencies essential for our time; these competencies might be even more timely due to the COVID-19 pandemic and the need for effective leadership at all levels. There is a vital need for these competencies, but there are also contrasts in practice, leaders who are rising to the occasion and those whose lacking is clearly notable. Ten competencies are outlined throughout the text that can serve as a foundation for effective leadership. They are based on personal experiences, interviews with various leaders, and research. Written for managers and business leaders of all kinds, this book will help individuals and businesses establish their leadership brand and enhance their leadership practices. This chapter explores the idea of vision, a trait that can separate good leaders from average ones. Leaders as visionaries are those who are inspired and motivated by an organization's potential and who work to get all stakeholders on board. Specific characteristics of leaders as visionaries are explored, including being future oriented, inclusive, and active. Various other personal traits are described in depth. Visionary leaders have three main roles: seeing the world differently, helping others to see the vision, and turning that vision into reality. They see into the future and therefore are willing to go first, take risks, and have the conviction to offset doubters. They need to be able to create a compelling vision, communicate it effectively, and lead its execution.
The twenty-first century poses new challenges for businesses, especially when it comes to velocity (the speed of now). This book looks at the intersections of leadership and velocity and offers key leadership competencies essential for our time; these competencies might be even more timely due to the COVID-19 pandemic and the need for effective leadership at all levels. There is a vital need for these competencies, but there are also contrasts in practice, leaders who are rising to the occasion and those whose lacking is clearly notable. Ten competencies are outlined throughout the text that can serve as a foundation for effective leadership. They are based on personal experiences, interviews with various leaders, and research. Written for managers and business leaders of all kinds, this book will help individuals and businesses establish their leadership brand and enhance their leadership practices. Chapter 3 explores the importance of effective communication. Collecting, providing, and transmitting information are a few keys to being an effective communicator of substantive material. Traits of effective and trustworthy communicators are discussed, including honesty, projecting confidence, and active listening. Communication is a two-way conversation, and listening is just as, if not more, important than talking. Other areas of communication are also discussed, such as nonverbal cues and contextual awareness. Apologizing and admitting leadership mistakes is essential for trust even though most leaders are hesitant to admit where they were wrong. E-communication is looked at briefly. Concrete ideas on how to act to be a leader as communicator are also given and explained, including speaking briefly and effectively, ensuring understanding, and asking questions.
The twenty-first century poses new challenges for businesses, especially when it comes to velocity (the speed of now). This book looks at the intersections of leadership and velocity and offers key leadership competencies essential for our time; these competencies might be even more timely due to the COVID-19 pandemic and the need for effective leadership at all levels. There is a vital need for these competencies, but there are also contrasts in practice, leaders who are rising to the occasion and those whose lacking is clearly notable. Ten competencies are outlined throughout the text that can serve as a foundation for effective leadership. They are based on personal experiences, interviews with various leaders, and research. Written for managers and business leaders of all kinds, this book will help individuals and businesses establish their leadership brand and enhance their leadership practices. Chapter 4 discusses the importance of leading by example, which allows for better understanding of expectations, congruency with core values, and higher levels of trust. A leader's example must be consistent; specific benefits of consistency are outlined, such as creating personal responsibility. Exemplars know that their example affects how members of the company view and respect one another and their stakeholders. It also encourages leadership skill development in the everyday routine. Leaders as exemplars should remember that no one is infallible and that owning their mistakes and showing their humanity is essential; they also need to be able to receive critical feedback, which can create a learning culture at all levels of the business. Leaders also need to regularly self-assess to ensure their example is as intended and is positively influencing their followers. Leaders should also make their values clear through their actions, such as committing to social justice initiatives and assessing organizational programs like rewards systems to ensure ethical behavior.
The twenty-first century poses new challenges for businesses, especially when it comes to velocity (the speed of now). This book looks at the intersections of leadership and velocity and offers key leadership competencies essential for our time; these competencies might be even more timely due to the COVID-19 pandemic and the need for effective leadership at all levels. There is a vital need for these competencies but there are also contrasts in practice, leaders who are rising to the occasion and those whose lacking is clearly notable. Ten competencies are outlined throughout the text that can serve as a foundation for effective leadership. They are based on personal experiences, interviews with various leaders, and research. Written for managers and business leaders of all kinds, this book will help individuals and businesses establish their leadership brand and enhance their leadership practices. This chapter looks at how leaders can be inclusionists, embracing diversity and promoting conscious inclusion and equity in an organization. Policies and practices should be created so all social identities can thrive; they should also be regularly assessed to ensure bias has not seeped into the business, which inhibits diversity and inclusion. This chapter looks at various benefits of diversity and how to maximize those through inclusive leadership. Some benefits include higher innovation, better decision making, increased profits, and reduced employee turnover. Six specific characteristics of inclusionist leaders are described, including being committed, curious, and culturally intelligent. An inclusionist leader should also be an exemplar and should cultivate a welcoming environment that respects differences and helps the team see the value in them. How to develop cultural competency is also discussed. Examples of ways leaders are engaging in inclusive practices during the COVID-19 pandemic are outlined and other tools for inclusive leadership development are given.
The twenty-first century poses new challenges for businesses, especially when it comes to velocity (the speed of now). This book looks at the intersections of leadership and velocity and offers key leadership competencies essential for our time; these competencies might be even more timely due to the COVID-19 pandemic and the need for effective leadership at all levels. There is a vital need for these competencies, but there are also contrasts in practice, leaders who are rising to the occasion and those whose lacking is clearly notable. Ten competencies are outlined throughout the text that can serve as a foundation for effective leadership. They are based on personal experiences, interviews with various leaders, and research. Written for managers and business leaders of all kinds, this book will help individuals and businesses establish their leadership brand and enhance their leadership practices. Chapter 6 discusses the growing responsibility of leaders-leaders in the business as well as employees-to represent the organization. These leaders are able to create, practice, and preach the company's vision through their actions. They must represent the right image of the brand in all they do and how they communicate; they also need to live the organization's values in a public and private manner. Proactive ambassadorship is vital. This is increasing in importance due to the rise of social media and today's pace of life in the workplace. Various attributes are described that are needed to be an effective leader as ambassador, including being passionate, knowledgeable, authentic, and confident. Examples of how a leader as ambassador can directly create positive outcomes are also given. Brand ambassadorship programs are another option to reach more customers in a specific location. Ideas on how a leader can develop the competency of being an ambassador are also described.